Key Considerations for Sellers
For many vendors the sale of a property can be a daunting experience, while for others it is a familiar path.
It is our philosophy that your agent should not only be your sales conduit, but your partner in ensuring you have a full understanding of the context of your property, it is priced appropriately, its full narrative is presented to buyers, and it is represented appropriately to the market.
There are a range of considerations leading into, during and following the sale of a property that influence the process. It may take some time to prepare your personal circumstances and property for sale, and being aware of some of the key factors can be valuable in working with your agent to bring your property to market.
There are some key themes to follow as you embark on the sale of your property:
- Choose your agent carefully. Identify an agent who is a neighbourhood specialist, understands the local market and influences of property demand and pricing, seeks understanding of your position, motivations and intention, and importantly with whom you can sense you can work well.
- Engage closely with your agent to ensure you are comfortable they are acting transparently and with your best intentions at heart. They will educate you about the market position of your property, building and location, key themes or considerations affecting your property, and recent comparable sales. This ensures you understand the current state of the market and the value of your property.
- Timing is always important in real estate. Be sure to discuss with your agent the optimal timing for any sale campaign. This may extend from general real estate cycles within the year, to specific considerations on a building-by-building basis or external factors in the political, economic or social context.
- Work closely with your accountant and lawyer/conveyancer before listing your home to understand the financial and legal implications of the sale given your circumstances. These are particularly important for foreign vendors perhaps unfamiliar with the legal process and framework surrounding the sale of a local property.
- Prepare your property for the market. Owner occupiers seeking to sell are in stronger control of the presentation of their property, and fresh painting, clean surfaces, minor renovations and staging/furnishing can make a large impact. If you are an investor you should engage closely with your agent to establish a strategy around the implications of selling a tenanted property.
- Campaign management is critical in the medium and higher density market. Ensuring your agent is representing your property and best interests is critical. This includes ensuring the method of sale, timing of campaign, management of tenancy considerations and marketing approach reflect the property, its circumstances and market context. Too often we observe these factors are not fully addressed , however these considerations require a very high level of consideration in the sale process.
NPM is here to ensure your experience is as easy, seamless and positive as possible.
To initiate a conversation about how NPM can assist you understand and unlock the market position and value of your property, feel free to contact us directly.